Account Budget Resolution
Account Budget Resolution
WHEREAS, the Board of Directors of [Your Company Name] recognizes the need for responsible fiscal management and accurate monitoring of expenditures to ensure the long-term sustainability of the company; it is hereby declared that:
RESOLVED, that a maximum expenditure limit is established for each specific account or set of accounts of [Your Company Name] during a defined period, typically a fiscal year. This limit will not exceed the total annual budget approved by the Board of Directors at the beginning of the fiscal year; and
RESOLVED FURTHER, that these funds should be distributed among different programs, departments, or initiatives within the account, ensuring efficient resource allocation in line with [Your Company Name]'s priorities. The CEO, together with the CFO, shall present a proposed distribution of funds to the Board of Directors for perusal and approval, and upon approval, the proposal becomes the operating guideline for the fiscal year; and
RESOLVED FURTHERMORE, that the CFO will provide guidelines and parameters for all financial decision-making, ensuring that expenditures align with the approved budgets, operational plans, and overall organizational objectives of [Your Company Name]. This includes promoting fiscal responsibility and accountability among all employees in the company; and
THEREFORE, BE IT RESOLVED, that this resolution is effective immediately as of [Month Day, Year] and will apply to the defined period of [START OF FISCAL YEAR] to [END OF FISCAL YEAR].
Adopted this [Month Day, Year] at [Your Company Name], [Your Company Address].
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[CEO NAME]
Chief Executive Officer
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[CFO NAME]
Chief Financial Officer
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[CHAIRPERSON NAME]
Board Chairperson
